Myriad Genetics Soars 29.72% on Strong Q2 Earnings

Myriad Genetics' stock surged by 29.72% in pre-market trading on August 6, 2025, marking a significant rise in investor confidence.

Myriad Genetics reported impressive second-quarter results, with revenue reaching $213.1 million, surpassing analyst expectations of $202.30 million. The company also achieved a non-GAAP profit of $0.05 per share, outperforming the predicted minor loss of $0.01 per share. CEO Sam Raha attributed the success to strong performance in hereditary cancer testing and strategic pricing trends.

The company raised its full-year revenue guidance, indicating confidence in sustaining growth. Myriad Genetics also secured a strategic financing partnership with OrbiMed, including a $200 million term loan facility, which replaces the existing asset-based credit facility. This partnership is expected to support the company's growth strategy effectively.

Myriad Genetics' financial health remains robust, with cash and cash equivalents totaling $74.4 million at the end of the quarter. The company is implementing a strategy focused on the Cancer Care Continuum, aiming to accelerate growth while maintaining disciplined expense management. This approach has already yielded improved profitability.